Assets Current assets Cash Accounts receivable Inventory Total 2020 Total assets Fixed assets Net plant and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Assets Current assets Cash Accounts receivable Inventory Total 2020 Total assets Fixed assets Net plant and equipment $336,695 SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 $23,066 $25,300 13,648 16,400 27,152 28,300 $63,866 $70,000 364,000 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total $ 400,561 $ 434,000 Total liabilities and owners' equity 2020 2021 $24,384 $28,300 14,000 12,000 12,771 19,700 $ 51,155 $60,000 $81,000 $85,703 $ 55,000 $ 55,000 213,406 233,297 $ 268,406 288,297 $ 400,561 $ 434,000 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (22%) Net income Dividends Retained earnings $ 22,000 19,891 $ 333,706 215,200 49,300 $ 69,206 15,500 $ 53,706 11,815 $ 41,891 Find the following financial ratios for Smolira Golf Corporation (use year-end figures rather than average values where appropriate): (Enter the profitability ratio answers as a percent rounded to 2 decimal places, e.g., 32.16. Round the remaining answers to 2 decimal places, e.g., 32.16.) Short-term solvency ratios: a. Current ratio b. Quick ratio c. Cash ratio Asset utilization ratios: d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios: 9. Total debt ratio h. Debt-equity ratio Equity multiplier 2020 times times times times times times 2020 times times times 2021 2021 times times times times times times Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned k. Cash coverage ratio Profitability ratios: 1. Profit margin m. Return on assets n. Return on equity 2020 times times % % % times times times 2021 times times times Assets Current assets Cash Accounts receivable Inventory Total 2020 Total assets Fixed assets Net plant and equipment $336,695 SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 $23,066 $25,300 13,648 16,400 27,152 28,300 $63,866 $70,000 364,000 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total $ 400,561 $ 434,000 Total liabilities and owners' equity 2020 2021 $24,384 $28,300 14,000 12,000 12,771 19,700 $ 51,155 $60,000 $81,000 $85,703 $ 55,000 $ 55,000 213,406 233,297 $ 268,406 288,297 $ 400,561 $ 434,000 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (22%) Net income Dividends Retained earnings $ 22,000 19,891 $ 333,706 215,200 49,300 $ 69,206 15,500 $ 53,706 11,815 $ 41,891 Find the following financial ratios for Smolira Golf Corporation (use year-end figures rather than average values where appropriate): (Enter the profitability ratio answers as a percent rounded to 2 decimal places, e.g., 32.16. Round the remaining answers to 2 decimal places, e.g., 32.16.) Short-term solvency ratios: a. Current ratio b. Quick ratio c. Cash ratio Asset utilization ratios: d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios: 9. Total debt ratio h. Debt-equity ratio Equity multiplier 2020 times times times times times times 2020 times times times 2021 2021 times times times times times times Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned k. Cash coverage ratio Profitability ratios: 1. Profit margin m. Return on assets n. Return on equity 2020 times times % % % times times times 2021 times times times
Expert Answer:
Answer rating: 100% (QA)
To calculate the requested financial ratios for Smolira Golf Corporation we will use the provided balance sheet and income statement figures for the y... View the full answer
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781265553609
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
Posted Date:
Students also viewed these finance questions
-
1) how could you separate gold from a mixture of zinc andgold? 2) complete and balance the following chemical reactions? Pb(NO3)2(aq)+2KCL(aq)-> Ba(NO3)2(aq)+Na2SO4(aq)->...
-
Use the attached "words.txt" file to store the words along with their ranks in an AVL tree. Then provide the user the option to search for any word. If the word exists the program displays the rank...
-
Which one of the following is not a characteristic of a negotiable certificate of deposit? Negotiable certificates of deposit Have a secondary market for investors. Are regulated by the Federal...
-
Modify HashST to use a resizing array so that the average length of the list associated with each hash value is between 1 and 8 .
-
Let f(x) = x if 0 < x < k, f(x) = 0 if x > k. Find fc(w).
-
Air passes through a normal shock in a supersonic wind tunnel. Upstream conditions are \(M_{1}=1.8, T_{1}=270 \mathrm{~K}\), and \(p_{1}=\) \(10.0 \mathrm{kPa}\) absolute. Downstream conditions are...
-
Use the summary statistics in Exercise 11 to test the null hypothesis H0: 1 = 0 versus H1: 1 0. Use the = 0.01 level of significance.
-
Jacksonville Window Co. reports the following for 2011: Retained earnings, January 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $335,200 Selling expenses . . . . . . . . . . . . . ....
-
Paula Corporation reports the following for this month: The beginning inventory is 30 units. It produces 140 units during this month. And 150 units are sold at $3,000 each. The budgeted level of...
-
The balance sheets of Forest Company and Garden Company are presented below as at December 31, Year 8. Additional Information Forest acquired 90% of Garden for $207,900 on July 1, Year 1, and...
-
Find any business report online, review it, and identify three things about it that you think would improve it.
-
What are the most common ways for real estate to be disposed of?
-
What does a judge look at when reviewing an agreement for procedural fairness? for substantive fairness?
-
You are using a \(2000 \mathrm{~V}\) potential difference to accelerate electrons toward a diffraction grating and produce a diffraction pattern. If you observe the first intensity peak at an angle...
-
What are the benefits of spelling out the custody and visitation arrangements?
-
Explain what is meant by the term "unbundled" legal services.
-
There are four primary stages in group problem-solving. How do groups move through these stages and how is the knowledge of these four stages helpful to groups as they work to accomplish a task?
-
If 2 5 9 - k 5 8 = 2 5 8 , what is the value of k?
-
Christie, Inc., has identified an investment project with the following cash flows. If the discount rate is 6 percent, what is the future value of these cash flows in Year 4? What is the future value...
-
A company is contemplating a long-term bond issue. It is debating whether to include a call provision. What are the benefits to the company from including a call provision? What are the costs? How do...
-
Evergreen Credit Corp. wants to earn an effective annual return on its consumer loans of 18.2 percent per year. The bank uses daily compounding on its loans. What interest rate is the bank required...
-
Does statelessness exist in wealthy countries such as the United States? How does the status of the "Dreamers" (people who entered the United States illegally as young children) compare with that of...
-
What are the main characteristics of the various systems of social differentiation within egalitarian and rank societies?
-
How does political organization relate to social differentiation?
Study smarter with the SolutionInn App